SMU Data and Models
SMU Market Trends: Will Virus Change Business Permanently?
Written by Tim Triplett
July 30, 2020
Two out of three steel buyers polled by Steel Market Update believe the coronavirus has permanently changed the way they do business. Sixty-five percent of the respondents to SMU’s questionnaire last week expect less travel and more working from home to become common practice, among other changes.
Following are some of their comments:
“There will be more emphasis on social distancing, personal hygiene, staggering workforce and management’s acceptance of telecommuting when possible.”
“Awareness of this virus will continue to keep us all at a social distance.”
“We’ve learned that most folks and functions can work from home. Some cannot. We may not need as many permanent offices as before.”
“We will have some back office staff working from home and expect travel budgets to be curtailed.”
“There will be less import interest due to future risk. Trade cases like Section 232 are still restricting imports. We could see some permanent shift to more domestic supply.”
“Travel will remain restricted. Working from home will become more normal. Credit insurance companies will continue to be conservative, and there will be a stricter focus on cash.”
“Reduced travel and more stay-at-home office personnel. Fewer customers will be making larger, longer-term commitments.”
“I see a permanent reduction in workforce.”
“Remote working may become the norm.”
Tim Triplett
Read more from Tim TriplettLatest in SMU Data and Models
SMU Scrap Survey: Current and Future Sentiment tick down
SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.
SMU Survey: Buyers’ Sentiment slips again, future outlook improves
Each of our Sentiment Indices continues to reflect that steel buyers are positive about their present and future business prospects, though that confidence has eased considerably compared to the beginning of the year.
SMU scrap market survey results now available
SMU’s October ferrous scrap market survey results are now available on our website to all premium members.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Survey: Sheet and plate lead times stabilize
Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.